Would you like to purchase a home, an automobile, or a Rolex watch and name the price you are willing to pay?
U.S. Department of Treasury Has Inventory for Sale
The U.S. Treasury Department division that taxpayers are most familiar with is the Internal Revenue Service. The IRS is charged with collecting the tax liability of taxpayers. When taxpayers do not pay their taxes, the IRS will often levy the taxpayers’ assets. Another word for “levy” is “seize”. Did you ever wonder what happens to those seized assets?
IRS Auctions Off Seized Assets Taken from Taxpayers
The IRS does not to want to hold onto the assets it seizes nor does it wish to play a custodian role. It simply wants to liquidate those assets into cash ASAP. When seizing assets, the IRS prefers high-end assets as they are the easiest to dispose of and will generate the most revenues for the U.S. Treasury.
Taxpayers who are looking for a potential good deal for a home, vehicle, Coach handbag, Rolex watch, or other valuable high-end property can perhaps find it by visiting the U.S. Treasury Department website for auctions.
If you would like to discuss your business or personal tax planning, tax preparation, IRS tax debt problems or other financial concerns with an experienced tax professional, we invite you to call 610-594-2601 today to make an appointment at our Exton PA CPA office to discuss your situation. You can also schedule a consultation at Click Here.
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BE SURE TO READ THE DISCLAIMER PAGE: Tax laws, IRS rules and regulations change frequently. Although we hope you’ll find this information helpful, this blog is for educational purposes only and should not be considered as the rendering of tax, legal or investment advice. The publisher shall not assume liability for any losses, injuries, or damages from the display or use of this information.
About F. Bryan Haarlander, EA, CTRS:
Bryan Haarlander is an IRS licensed Enrolled Agent and who owns and operates a specialized tax services firm serving clients in the western suburbs of Philadelphia, PA, which includes the cities of Chester Springs, Coatesville, Collegeville, Devon, Downingtown, Exton, Frazer, King of Prussia, Paoli, Philadelphia, Phoenixville, Pottstown, Radnor, Reading, Wayne, West Chester in Berks, Chester, Delaware, Montgomery and Philadelphia Counties, as well as clients in Delaware, New Jersey, New York and throughout the continental USA.
A Certified Tax Resolution Specialist, Bryan is well-known for his IRS tax resolution expertise and his book How to Resolve Your IRS Tax Debt Problems.